US Concrete Inc (USCR) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $0.31 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.09. Analysts had a consensus of $0.22. The company posted revenue of $245.00 million in the period, compared to analysts expectations of $221.14 million. The company’s revenue was up 43.0% compared to the same quarter last year.
Many Wall Street Analysts have commented on US Concrete Inc. BB&T Capital Mkts Initiated US Concrete Inc on Apr 21, 2016 to “Buy”, Price Target of the shares are set at $80.US Concrete Inc was Downgraded by Sidoti to ” Neutral” on Apr 20, 2016.
US Concrete Inc closed down -1.7 points or -2.63% at $62.83 with 2,90,308 shares getting traded on Wednesday. Post opening the session at $64.16, the shares hit an intraday low of $61.48 and an intraday high of $64.16 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Apr 29, 2016, William J Sandbrook (President & CEO) sold 6,500 shares at $67.10 per share price. According to the SEC, on Apr 13, 2016, Colin Mcgill Sutherland (director) sold 200 shares at $60.76 per share price. On Mar 21, 2016, Mark Baker Peabody (VP – Human Resources) sold 2,000 shares at $55.00 per share price, according to the Form-4 filing with the securities and exchange commission.
U.S. Concrete Inc. is a producer of ready-mixed concrete in select markets in the United States. The Company operates through two segments: ready-mixed concrete and aggregate products. Its ready-mixed concrete engages in the formulation production and delivery of ready-mixed concrete to its customers’ job sites. It provides ready-mixed concrete from its operations in north Texas west Texas northern California New Jersey New York Washington D.C. and Oklahoma. Its aggregate products segment produces crushed stone sand and gravel from seven aggregates facilities located in New Jersey and Texas. Its customers include contractors for commercial and industrial residential street and highway and other public works construction. It has approximately 139 ready-mixed concrete plants 16 volumetric ready-mixed concrete facilities and 12 producing aggregates facilities. Its Wantage Stone reserves a site development quarry which include an 80 acre land that is located in New Jersey.